I have recently realised that I have 72 years left on my lease in Great Shelford. I am keen to get lease extension but my freeholder is missing. What should I do?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you have used your best endeavours to locate the landlord. For most situations a specialist would be useful to carry out a search and prepare a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the application to the County Court overseeing Great Shelford.

I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable price which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Great Shelford. Conveyancing advisers have are about to be appointed. Will they explain the issues?

The majority of houses in Great Shelford are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Great Shelford so you should seriously consider shopping around for a Great Shelford conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am a negotiator for a busy estate agent office in Great Shelford where we have experienced a number of leasehold sales derailed as a result of leases having less than 80 years remaining. I have been given contradictory information from local Great Shelford conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension process for the buyer?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

What are your top tips when it comes to choosing a Great Shelford conveyancing firm to deal with our lease extension?

When appointing a conveyancer for lease extension works (regardless if they are a Great Shelford conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggested that you speak with several firms including non Great Shelford conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. Some following of questions could be of use:

• How experienced is the practice with lease extension legislation?

In relation to leasehold conveyancing in Great Shelford what are the most common lease defects?

There is nothing unique about leasehold conveyancing in Great Shelford. All leases are individual and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:

• Repairing obligations to or maintain parts of the building
• A duty to insure the building
• A provision for the recovery of money spent for the benefit of another party.
• Service charge per centages that don't add up correctly leaving a shortfall

You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.

Great Shelford Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

How many of the leaseholders are in arrears for their service charge payments? The majority of Great Shelford leasehold flats will incur a service charge for maintenance of the building levied on behalf of the landlord. If you purchase the flat you will have to pay this amount, normally in instalments during the year. This may be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge to be met annual, this is usually not a significant figure, say around £25-£75 but you should to enquire as occasionally it can be many hundreds of pounds. You should want to find out as much as you can concerning the company managing the building as they can either make your living at the property much easier or uncomfortable. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to every day matters like the upkeep of the communal areas. Enquire of other people whether they are happy with their management. Finally, be sure you understand the dates that you are obliged pay the maintenance charge to the relevant party and precisely what you get for your money.

Other Topics

Lease Extensions in Great Shelford